With the recent turn of events in the marijuana industry, the companies operational in the sector are fetching huge interest of people. With new partnerships and revenue sources, mCig Inc (OTCMKTS:MCIG) is one company that looks promising in the sector. The company adopted a aggressive and cohesive strategy to expand its services in the industry. The partnership with Cafe Serendipity offers professional sales force, marketing team, retail channel and likely entry into casino market. Apart from it, new chill CBD oils are in focus. As of now the market is underestimating the bright prospects of the company.
Previously, mCig was just a pen vaporizer company. It had no toxic debt, or much debt in its books. It has a shareholder friendly Chief Executive, Paul Rozenberg, who had given assurance not to dilute. The company even rewarded its shareholders with an equal number of shares in its spinoff firm VitaCig Inc (OTCMKTS:VTCQ). In the spinoff deal, Rozenberg contributed his personal shares for dividend payment.
In past three months, the company made its intentions clear that it want to become a leading company in the marijuana sector. In December, mCig announced its plans to create a new subsidiary named as CannaProTech, LLC in Oregon. The decision came at a time when the state had just voted to legalize pot for recreational use. The company stated that it formed subsidiary for objective of processing and distributing cannabis along with future expansion plans into recreational retail areas. It will also help in the development of product line of the company. It intends to offer mobile vaporization in solutions for the delivery of CBD.
The other details
CannaProTech, LLC and mCig are nearing conclusive deals with two established and reputable Medical Marijuana cultivators in Oregon with large and productive organic cannabis farms. The deal will enable CannaProTech to directly obtain medical-grade cannabis.